Aperio Group LLC boosted its holdings in shares of Square, Inc. (NYSE:SQ) by 28.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,929 shares of the technology company’s stock after purchasing an additional 25,305 shares during the period. Aperio Group LLC’s holdings in Square were worth $18,357,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fir Tree Capital Management LP bought a new position in Square during the second quarter worth about $9,078,000. Coatue Management LLC lifted its stake in Square by 31.0% during the second quarter. Coatue Management LLC now owns 4,326,261 shares of the technology company’s stock worth $453,998,000 after purchasing an additional 1,022,563 shares during the period. Dragoneer Investment Group LLC lifted its stake in Square by 7.7% during the second quarter. Dragoneer Investment Group LLC now owns 1,777,689 shares of the technology company’s stock worth $186,551,000 after purchasing an additional 126,571 shares during the period. FIL Ltd lifted its stake in Square by 1.5% during the second quarter. FIL Ltd now owns 1,717,523 shares of the technology company’s stock worth $179,977,000 after purchasing an additional 25,589 shares during the period. Finally, Swiss National Bank raised its stake in shares of Square by 4.1% in the second quarter. Swiss National Bank now owns 1,403,295 shares of the technology company’s stock valued at $147,262,000 after acquiring an additional 55,900 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.
SQ has been the subject of a number of research analyst reports. KeyCorp lifted their target price on shares of Square from $215.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group reiterated a “sell” rating and issued a $114.00 target price on shares of Square in a research note on Tuesday, September 29th. Morgan Stanley lifted their target price on shares of Square from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Wells Fargo & Company lifted their target price on shares of Square from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Square from $156.00 to $172.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $149.85.
In related news, CAO Ajmere Dale sold 3,880 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $153.03, for a total value of $593,756.40. Following the sale, the chief accounting officer now directly owns 43,310 shares of the company’s stock, valued at approximately $6,627,729.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 200,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $149.79, for a total transaction of $29,958,000.00. Following the completion of the sale, the director now directly owns 279,446 shares in the company, valued at $41,858,216.34. The disclosure for this sale can be found here. Insiders sold a total of 781,819 shares of company stock valued at $130,561,974 in the last three months. 21.79% of the stock is owned by company insiders.
Shares of SQ stock opened at $177.19 on Monday. Square, Inc. has a 12-month low of $32.33 and a 12-month high of $201.33. The firm has a market capitalization of $78.59 billion, a price-to-earnings ratio of 285.79 and a beta of 2.68. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.92. The firm has a fifty day moving average of $175.10 and a 200-day moving average of $130.00.
Square (NYSE:SQ) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.18. Square had a net margin of 5.15% and a negative return on equity of 1.20%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The firm’s revenue was up 139.6% on a year-over-year basis. Research analysts expect that Square, Inc. will post -0.23 earnings per share for the current year.
Square Company Profile
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.
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